SR&ED / SRED Newshttp://srednews.ca
The latest news on the Canadian SR&ED programMon, 29 Dec 2014 19:36:30 +0000en-UShourly1http://wordpress.org/?v=4.1.1Start-Ups and SR&ED Tax Creditshttp://srednews.ca/start-ups-and-sred-tax-credits/
http://srednews.ca/start-ups-and-sred-tax-credits/#commentsMon, 29 Dec 2014 19:36:30 +0000http://srednews.ca/?p=533Continue reading →]]>According to Craig Mulcahy, a Partner at BDO, Startups should investigate SR&ED because it is a good Year 2 cash flow tool for them- however, just because you make an app doesn’t mean that you are eligible for SR&ED tax credits. To avoid problems, it is recommended that start-up companies abide by the following guidelines.

1. Plan ahead- go through the CRA assessment tool and talk to CRA to get a quick assessment of whether you should apply. Ask an accountant or SR&ED specialist for a free consultation to see if it is worth proceeding.

2. Be realistic- be modest in your expectations; if your budget requires SR&ED funding to pay full-time staff, you may have problems.

3. Ensure that documentation is available- Learn about the documentation CRA requires and make sure you produce it throughout the year.

]]>http://srednews.ca/start-ups-and-sred-tax-credits/feed/0Quebec Government Cuts Back on Lucrative SR&ED Tax Credit Programhttp://srednews.ca/quebec-government-cuts-back-on-lucrative-sred-program/
http://srednews.ca/quebec-government-cuts-back-on-lucrative-sred-program/#commentsWed, 10 Dec 2014 16:39:51 +0000http://srednews.ca/?p=525Continue reading →]]>Quebec Finance Minister Carlos Leitao announced cutbacks to the Quebec SR&ED tax credit program during his December 2nd economic update. Although SR&ED is a federal program, each province or territory may also provide provincial or territorial tax credits to qualifying corporations carrying out SR&ED in their respective province or territory.

Effective immediately, minimum eligibility thresholds will be introduced for the Quebec provincial tax credit. The provincial government will be establishing a minimum expenditure threshold situated $50,000 (for companies with less than $50 million in assets) and $225,000 (for companies with assets totalling over $75 million). This threshold will increase linearly from $50,000 to $225,000 for companies with assets between $50 million and $75 million.

Secondly, Quebec’s enhanced SR&ED tax credit rates for research contracts, private partnership research, and fees paid to a research consortium will be standardized (to be set at same rate as researchers’ salaries) as of December 3, 2014.

How do you calculate your SR&ED expenditures and investment tax credit

How to apply for SR&ED tax incentives

]]>http://srednews.ca/new-cra-sred-video-series/feed/0Quality Assurance and Food Safety Departments Can Help Substantiate Eligible SR&ED Costshttp://srednews.ca/quality-assurance-and-food-safety-departments-can-help-substantiate-eligible-sred-costs/
http://srednews.ca/quality-assurance-and-food-safety-departments-can-help-substantiate-eligible-sred-costs/#commentsWed, 22 Oct 2014 16:04:15 +0000http://srednews.ca/?p=519Continue reading →]]>The SR&ED program can have a significant impact on the affordability of product development for food processors. But SR&ED isn’t solely concerned with a R&D team- Eligible SR&ED costs and claims may be initiated, supported, or documented in other operational areas, especially quality assurance and food safety. Both of these areas are fundamental parts of any food and beverage company’s daily operations, and they present a typically well-authenticated opportunity to initiate, support, and document experimental development activities and associated costs. As two departments that rely heavily on documentation and analysis, quality assurance and food safety are not only important to a business’s bottom line, meeting industry standards, and quality production, but also offer a wealth of information that can lead to SR&ED claims that were previously missed or undervalued. More about how quality assurance and food safety departments can help substantiate SR&ED claims can be found in Food Quality and Safety’s special feature.
]]>http://srednews.ca/quality-assurance-and-food-safety-departments-can-help-substantiate-eligible-sred-costs/feed/0SR&ED Financing and Alternative Financing Seminarhttp://srednews.ca/sred-financing-and-alternative-financing-seminar/
http://srednews.ca/sred-financing-and-alternative-financing-seminar/#commentsTue, 16 Sep 2014 19:17:00 +0000http://srednews.ca/?p=516Continue reading →]]>NorthBridge Consultants will be hosting a seminar on alternative financing options for small- to medium-sized enterprises in Cambridge, Ontario on September the 18th, 2014. Topics covered will include:

]]>http://srednews.ca/sred-financing-and-alternative-financing-seminar/feed/0Nova Scotia SR&ED Seminar on September 25thhttp://srednews.ca/nova-scotia-sred-seminar-on-september-25th/
http://srednews.ca/nova-scotia-sred-seminar-on-september-25th/#commentsFri, 05 Sep 2014 19:23:24 +0000http://srednews.ca/?p=513Continue reading →]]>The Nova Scotia Tax Services Office is providing free information seminars to provide a general overview of the SR&ED program, in order to to explain eligibility criteria, what expenditures are eligible, and how to file a SR&ED claim. Their next Halifax seminar, on September the 25th, is intended for accounting firms and tax preparers who prepare SR&ED claims. There is no charge to attend. Pre-registration is required, as seating is limited.

“When properly applied, the SR&ED program can result in substantial tax savings, however many often do not realize optimal benefits or realize that they have activities that qualify. Eligible private companies can receive over 50% of their qualifying expenditures as a cash refund and larger private and public companies can receive over 30% of their qualifying expenditures as a tax credit,” says Enzo Testa, Senior Tax Partner. “Bringing this calibre of specialized expertise in-house ensures that our clients are well supported as they continue to spur innovation in some of the country’s key industries.”

]]>http://srednews.ca/collins-barrow-toronto-launches-sred-tax-recovery-practice/feed/0Upcoming CRA SR&ED Webinarshttp://srednews.ca/upcoming-cra-sred-webinars/
http://srednews.ca/upcoming-cra-sred-webinars/#commentsFri, 04 Jul 2014 14:26:50 +0000http://srednews.ca/?p=508Continue reading →]]>Canada Revenue Agency will be hosting 2 pilot webinars on the SR&ED program. These free public online interactive webinars will provide a general overview of the Program, explaining the eligibility criteria, what expenditures qualify, and how to file a Scientific Research and Experimental Development (SR&ED) claim.

]]>http://srednews.ca/upcoming-cra-sred-webinars/feed/0Claim Review Manual for SR&ED Research and Technology Advisorshttp://srednews.ca/new-claim-review-manual-for-sred-research-and-technology-advisors/
http://srednews.ca/new-claim-review-manual-for-sred-research-and-technology-advisors/#commentsFri, 27 Jun 2014 18:13:02 +0000http://srednews.ca/?p=505Continue reading →]]>The CRA website has been updated with the complete Claim Review Manual (CRM) for Research and Technology Advisors. The new CRM cancels and replaces The Guide to Conducting a Scientific Research and Experimental Development (SR&ED) Review and Directive 2004-03 SR&ED Reports and is effective June 1, 2010.
]]>http://srednews.ca/new-claim-review-manual-for-sred-research-and-technology-advisors/feed/0Revised Optional SR&ED Filing Measure for T661http://srednews.ca/revised-optional-sred-filing-measure-for-part-9/
http://srednews.ca/revised-optional-sred-filing-measure-for-part-9/#commentsMon, 02 Jun 2014 19:14:40 +0000http://srednews.ca/?p=498Continue reading →]]>As of January 1, 2014, Part 9 of the Form T661 (13) for SR&ED must be completed with details about the claim preparer(s) involved. If any of the prescribed claim preparer information is missing, incomplete or inaccurate, a penalty of $1,000 may be assessed.